ALEXANDRIA, VA–Houston-based Weingarten Realty has just acquired 5.2 acres of land about four miles away from Old Town Alexandria. The parcel is at the corner of King and North Beauregard streets and there the company is planning to invest $160 million to build a mixed-use project called The Gateway Alexandria.
The 500,000 square foot project will have 352 apartment units, 74 of which will be affordable units and the remainder luxury, 110,000 square feet of retail that will be anchored by Harris Teeter, 87,000 square feet of office space and below-grade parking with 820 spaces.
Weingarten will own the retail, the 275 luxury residences, and approximately 23,000 square feet of the office space.
The company is calling this a transit-oriented development, however the site will not be served by the DC area metro system. When it delivers, Weingarten reports that the project will be served by a new Bus Rapid Transit station that will connect to the Pentagon Metro station to the Van Dorn Street station. The Gateway will be one of the designated stops.
Weingarten is also developing the retail component at The Parks at Walter Reed is one — Eisenhower Village — in the Washington DC area.
ALEXANDRIA, VA–Houston-based Weingarten Realty has just acquired 5.2 acres of land about four miles away from Old Town Alexandria. The parcel is at the corner of King and North Beauregard streets and there the company is planning to invest $160 million to build a mixed-use project called The Gateway Alexandria.
The 500,000 square foot project will have 352 apartment units, 74 of which will be affordable units and the remainder luxury, 110,000 square feet of retail that will be anchored by Harris Teeter, 87,000 square feet of office space and below-grade parking with 820 spaces.
Weingarten will own the retail, the 275 luxury residences, and approximately 23,000 square feet of the office space.
The company is calling this a transit-oriented development, however the site will not be served by the DC area metro system. When it delivers, Weingarten reports that the project will be served by a new Bus Rapid Transit station that will connect to the Pentagon Metro station to the Van Dorn Street station. The Gateway will be one of the designated stops.
Weingarten is also developing the retail component at The Parks at Walter Reed is one — Eisenhower Village — in the Washington DC area.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
